CBIZ Inc. has acquired substantially all of the assets of Prince-Wood Insurance L.L.C., of Woodbridge, VA, effective July 1, 2020.
PWI provides property and casualty insurance to small and mid-sized businesses in Northern and Central Virginia, Maryland and Washington, DC. PWI has seven employees and approximately $1.2 million in annual revenue.
Jerry Grisko, President and CEO of CBIZ, stated, "We are pleased to complete the acquisition of Prince-Wood Insurance as part of our ongoing strategy to strengthen our property and casualty insurance business. Despite the impact of the ongoing COVID-19 pandemic, our property and casualty business continues to grow coming off a very strong year of performance in 2019. Prince-Wood is an ideal partner given their long-standing local presence and deep client relationships. We look forward to welcoming them to the CBIZ team."